The PCK oil refinery
Germany under pressure to solve Rosneft refinery problem
The Russian company’s German assets are under Berlin’s management and are exempt from sanctions, for now, but a permanent solution still needs to be found
Germany faces a narrowing window to secure a durable solution to the issue of Russian oil company Rosneft’s German subsidiaries, with the US Office of Foreign Assets Control (OFAC) sanctions waiver for the companies set to expire in April 2026. OFAC granted License 129—which exempts Rosneft’s German subsidiaries and majority-owned companies from US sanctions—at the end of October. The decision came after Germany’s Ministry for Economic Affairs and Energy provided assurances that the German subsidiaries' operations are "decoupled" from their Russian parent and are no longer controlled from Russia, meaning they do not generate income for Moscow. 740,000b/d – Total capacity of Rosneft’s G
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